Three Types of Medical Malpractice Insurance You Need to Know About

When it comes to medical malpractice insurance, there are several different types. If you are a medical professional considering your doctors malpractice insurance cost and which type of coverage you need, keep in mind that the form of coverage you require depends on your specific practice.


  1. Claims-Made Coverage


This is the most basic form of medical malpractice insurance. With a claims-made policy, claims made against you are only covered when the policy is in effect. One of the benefits of these policies is that your premiums are based on your experience as a medical provider.


  1. Occurrence Coverage


Occurrence coverage protects you from alleged negligence that occurred while the policy was in effect, regardless of when the claim was made. This means that if you choose to switch insurance providers or cancel your policy, a claim that is made after you do this is still covered under your previous malpractice coverage.


  1. Prior Acts Coverage


This form of medical malpractice insurance protects you from claims that arise due to “prior acts” that occurred when you were insured through a different carrier.


To ensure you are adequately protected against risk, it is essential that you obtain the right type of medical malpractice insurance. You may want to consider speaking with an insurance provider about doctors malpractice insurance cost and what type of policy is best for your practice.